US factory orders fall

This is the best tl;dr I could make, original reduced by 59%. (I'm a bot)

New orders for U.S.-made goods fell in April and shipments dropped by the most in two years, indicating continued weakness in manufacturing activity that could undercut the broader economy.

Factory goods orders declined 0.8%, pulled down by soft demand for transportation equipment, computers and electronic orders, and primary metals, the Commerce Department said on Tuesday.

The weak factory orders data was flagged by a report last month showing a drop in demand for long-lasting manufactured goods in April, as well as a drop in manufacturing production.

Orders for computers and electronic products fell 0.5%, while those for primary metals dropped 1.1%. Machinery orders rose 0.3% after dropping 2.0% in March.

Orders for electrical equipment, appliances and components increased 0.9%. Transportation equipment orders tumbled 5.9% in April after rising 6.0% in the prior month.

Orders for civilian aircraft and parts plunged 25.2%. Motor vehicles and parts orders fell 1.7%. The Commerce Department also said April orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans on equipment, declined 1.0% instead of the 0.9% drop reported last month.

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